Oxford Business English Dictionary for Learners of English

'tax provision noun [c,u] (Accounting) an amount of money that a company keeps in order to pay tax at the end of the year: In the quarter just ended, the company made a $21 m tax provision.

'tax ratenoun [c] the percentage of an amount of money or of the value of sth that has to be paid as tax: Ireland's low corporate tax rate has attracted a number of manufacturers.

tax re.lief noun [u] [Accounting) a reduction in the amount of tax you have to pay: Small companies can claim tax relief on research and development expenditure. О to claim/gain/get tax relief♦ to be eligible for/be entitled to/qualify for tax relief ♦ to give/offer/ provide tax relief ♦ to abolish/cut/end tax relief

'tax re,turn[alsore'turn) noun [c][Accounting) a statement of how much money a company or person has earned and their expenses, used by the government to calculate how much tax they have to pay; the form on which this statement is made: a tax return for the year 2005-6 о Many companies file their corporate tax return online.

tax declaration, tax form О to file/make/send in a tax return ♦ to complete/do/ fill in/fill out a tax return

'tax sale noun [c] [AmE)[Law) when a property is sold by a government because the owner has not paid their taxes

'tax .shelter noun [c] [Accounting) a way of using or investing money so that you can legally avoid paying tax on it: Investors were taking advantage of a tax shelter in their retirement savings plans, ►'tax-,sheltered adjective: tax-sheltered savings plans

'tax subsidy noun [c,u] a reduction in the amount of tax that a company pays, given by the government for a particular purpose: tax subsidies to encourage companies to create new jobs

'tax take noun [C] [especially AmE) [informal) the amount of money that is taken as tax: The government will have to raise its tax take to pay for its public spending, о a high tax take on earned income

'tax .threshold [also 'threshold, less frequent) noun [c]

the level of income above which a company or person starts to pay income tax: The corporate tax threshold for small businesses is to be raised to 500000.

"tax yearnoun [c] [especially BrE)[Accounting) the period of 12 months over which the taxes of a company or a person are calculated. In the UK it begins on 6 April; in the US, usually on 1 July. financial year

t.b. [also spelled ТВ) /,ti: 'bi:/ = trial balance

T.B.A /,ti:bi:'ei/ abbr (used in notices about events, etc.) to be arranged, to be announced, to be advised or, less often, to be agreed: Meeting Tuesday 2.30, venue t.b.a.

'T-bill = Treasury bill

'T-bond = Treasury bond

TCN /,ti: si: 'en/ = third-country national

TCO /,ti:si:'au;/\mF'ou/ = total cost of ownership

't-,commerce noun [u]

the buying and selling of products through interactive television (= that allows information to be passed in both directions)

the buying and selling of products by telephone

*team /ti:m/ noun, verb

noun [c with sing./pl. verb]

see also: management team

teamworking ft-i:mw3:kig;AmE[23]w3:#k-/=i- noun [U]